Euskaltel Q1 shows financial strength
June 3, 2020
From David Del Valle in Madrid
Just days after the launch of Virgin Telco, Euskaltel has posted strong financial results for the first quarter of the year. The company increased its EBITDA by 8.1 per cent, reduced its debt and returned to growth in terms of revenues.
Euskaltel increased its revenues by 0.1 per cent on the same period last year and after two years of negative results. During the lockdown, Euskaltel has seen VoD consumption on its networks increase by 32 per cent, whilst data traffic has been up 71 per cent and voice traffic up 65 per cent.
The positive results arrive soon after the launch of Virgin Telco across Spain with plans to capture 800,000 customers in five years, raise Euskaltel’s EBITDA by 45 per cent to over €500 million and increase its revenues to €1.3 billion (from €685 million in 2019).